Caitong International Asset Management Co. Ltd Trims Holdings in LandBridge Company LLC $LB

Caitong International Asset Management Co. Ltd cut its holdings in LandBridge Company LLC (NYSE:LB) by 61.8% during the second quarter, Holdings Channel reports. The institutional investor owned 593 shares of the company’s stock after selling 961 shares during the quarter. Caitong International Asset Management Co. Ltd’s holdings in LandBridge were worth $40,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. US Bancorp DE bought a new position in LandBridge in the 1st quarter worth about $28,000. Uniplan Investment Counsel Inc. bought a new position in LandBridge in the 1st quarter worth about $30,000. Banque Transatlantique SA bought a new position in LandBridge in the 1st quarter worth about $34,000. Deutsche Bank AG bought a new position in LandBridge in the 1st quarter worth about $55,000. Finally, Avondale Wealth Management bought a new position in LandBridge in the 2nd quarter worth about $81,000.

LandBridge Price Performance

LB opened at $59.57 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 4.26 and a current ratio of 4.26. The stock has a market capitalization of $4.56 billion, a P/E ratio of 116.80 and a beta of 0.14. The company’s 50-day simple moving average is $53.68 and its two-hundred day simple moving average is $62.45. LandBridge Company LLC has a 52-week low of $48.55 and a 52-week high of $87.60.

LandBridge Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th were paid a dividend of $0.10 per share. The ex-dividend date was Thursday, September 4th. This represents a $0.40 annualized dividend and a yield of 0.7%. LandBridge’s dividend payout ratio is currently 78.43%.

Wall Street Analysts Forecast Growth

LB has been the topic of a number of analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of LandBridge in a research note on Tuesday, October 14th. Barclays dropped their price target on shares of LandBridge from $66.00 to $57.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 14th. Wells Fargo & Company dropped their price target on shares of LandBridge from $93.00 to $91.00 and set an “overweight” rating on the stock in a research note on Friday, October 17th. Zacks Research cut shares of LandBridge from a “hold” rating to a “strong sell” rating in a research note on Friday, October 10th. Finally, Piper Sandler lowered their target price on shares of LandBridge from $70.00 to $55.00 and set a “neutral” rating on the stock in a research note on Friday, August 15th. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $65.17.

LandBridge Profile

LandBridge Company LLC owns and manages land and resources to support and enhance oil and natural gas development in the United States. It owns surface acres in and around the Delaware Basin in Texas and New Mexico. The company holds a portfolio of oil and gas royalties. It also sells brackish water and other surface composite materials.